First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Mader & Shannon Wealth Management Inc.

Mader & Shannon Wealth Management Inc. grew its position in First Solar, Inc. (NASDAQ:FSLR) by 69.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,363 shares of the solar cell manufacturer’s stock after purchasing an additional 5,897 shares during the period. First Solar makes up 1.6% of Mader & Shannon Wealth Management Inc.’s holdings, making the stock its 15th largest position. Mader & Shannon Wealth Management Inc.’s holdings in First Solar were worth $2,531,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its holdings in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after acquiring an additional 516,783 shares during the period. Merewether Investment Management LP grew its holdings in First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after acquiring an additional 293,400 shares during the period. Erste Asset Management GmbH acquired a new stake in First Solar during the third quarter worth about $67,652,000. Finally, International Assets Investment Management LLC grew its holdings in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after acquiring an additional 216,640 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays dropped their target price on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Royal Bank of Canada dropped their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. BMO Capital Markets reiterated an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their price target on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $276.38.

First Solar Stock Performance

Shares of First Solar stock opened at $162.50 on Thursday. First Solar, Inc. has a one year low of $141.70 and a one year high of $306.77. The company has a market cap of $17.40 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.18 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business’s 50 day moving average price is $177.64 and its 200 day moving average price is $201.00.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.